HC Wainwright Analysts Increase Earnings Estimates for SNDX

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) – Research analysts at HC Wainwright raised their FY2024 EPS estimates for Syndax Pharmaceuticals in a note issued to investors on Wednesday, November 6th. HC Wainwright analyst E. White now forecasts that the company will post earnings of ($3.83) per share for the year, up from their prior forecast of ($3.94). HC Wainwright currently has a “Buy” rating and a $47.00 target price on the stock. The consensus estimate for Syndax Pharmaceuticals’ current full-year earnings is ($3.66) per share. HC Wainwright also issued estimates for Syndax Pharmaceuticals’ Q4 2024 earnings at ($1.20) EPS, FY2025 earnings at ($3.75) EPS and FY2026 earnings at ($2.96) EPS.

SNDX has been the topic of several other reports. The Goldman Sachs Group increased their target price on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday. Citigroup upped their target price on shares of Syndax Pharmaceuticals from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Stifel Nicolaus lifted their price objective on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. lowered their target price on Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, UBS Group initiated coverage on Syndax Pharmaceuticals in a report on Thursday, October 24th. They set a “buy” rating and a $37.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $35.82.

Syndax Pharmaceuticals Trading Up 1.3 %

Syndax Pharmaceuticals stock opened at $21.81 on Friday. The stock has a fifty day moving average price of $19.11 and a 200 day moving average price of $20.33. Syndax Pharmaceuticals has a 52 week low of $13.14 and a 52 week high of $25.34. The firm has a market capitalization of $1.86 billion, a P/E ratio of -6.01 and a beta of 0.92.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($1.13) by $0.15. The business had revenue of $12.50 million during the quarter, compared to analyst estimates of $9.16 million. During the same quarter last year, the firm posted ($0.73) earnings per share.

Institutional Trading of Syndax Pharmaceuticals

A number of hedge funds have recently modified their holdings of the stock. Iron Triangle Partners LP bought a new position in shares of Syndax Pharmaceuticals in the first quarter worth $23,159,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Syndax Pharmaceuticals during the 3rd quarter worth approximately $15,165,000. First Turn Management LLC bought a new position in Syndax Pharmaceuticals in the 2nd quarter valued at approximately $13,147,000. Vanguard Group Inc. lifted its stake in Syndax Pharmaceuticals by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company’s stock valued at $117,262,000 after purchasing an additional 591,631 shares during the last quarter. Finally, Sofinnova Investments Inc. boosted its stake in shares of Syndax Pharmaceuticals by 33.9% during the second quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company’s stock valued at $44,215,000 after purchasing an additional 545,129 shares in the last quarter.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).